Amex Gold Vs Chase Sapphire Preferred: Which One to Choose?
In the era of smart shopping, owning a rewards credit card seems blissful. Most people fond of such cards find it difficult to choose between Amex Gold Vs Chase Sapphire Preferred. American Express and Chase serve as the top two leading banks throughout the industry. For this reason, their cards are highly appreciated by everyone.
Both cards offer plenty of benefits to their users. People passionate about spending on groceries, travel, and dining must have both in their wallets. However, the debate often prefers people to choose one.
To do so, let us compare the details and benefits of the Amex Card and the Chase Sapphire Preferred version.
Amex Gold Vs Chase Sapphire Preferred: A Detailed Comparison
The American Express Gold card and the Chase Sapphire card are currently offering different deals for their users. Anyone looking to own one of these cards can check the deals below.
AMEX GOLD REWARDS CARD
Recommended Credit Score: (670 – 850 or Good to Excellent)
Regular APR: 20.49% - 27.49% variable
Annual Fee: $250
Rewards Earning Rate: Earn 4x Membership Reward Points at restaurants and supermarkets in the USA. Also, earn 3x Membership Rewards points on flights directly booked through the official travel website of American Express (amextravel.com)
Foreign Transaction Fee: 0%
Pros and Cons:
- Astounding APR
- Zero foreign transaction fees
- Dining credit available
- Also offered in Rose Gold
- Expensive membership
- Requires higher credit score
- Limited flight points
- Longer wait to receive reward points
CHASE SAPPHIRE PREFERRED REWARDS CARD
Recommended Credit Score: (670 – 850 or Good to Excellent)
Regular APR: 20.49% - 27.49% variable
Annual Fee: $95
Rewards Earning Rate: Earn different benefits like $50 every year on Ultimate Rewards Hotel Credit. Further, enjoy 3x on travel purchases and 5x on travel purchases earned through Chase Ultimate Rewards. Also, enjoy 3x on dining.
Foreign Transaction Fee: 0%
Pros and Cons:
- Pocket-friendly membership
- Short span for earning rewards
- 1:1 transfer rate
- Limited travel rewards
- Limited dining rewards
- Limited partners for dining
What Are The Eligibility Criteria For The American Express Gold And Chase Sapphire Rewards Card?
You must have good to excellent credit to use any of these cards. But, when compared in numbers, both the cards compete with each other by 30 points. To use the Chase Sapphire rewards card, users require 670 points. However, for the American Express Gold card, applicants need a credit score of 700 or higher.
Rewards and Benefits for Amex Gold Vs Chase Sapphire Preferred
American Express Gold is considered the finest choice for food lovers. Cardholders get a reward credit of approx. $120 dining credit at popular restaurants like Seamless and Grubhub. The card features a monthly credit reward of $10 valid for Uber or Uber Eats cash at an annual limit of $120. Also, Amex Gold provides individuals with Amex Preferred seating and different presale programs.
Chase, on the other hand, offers 2x the credit points on flights to every cardholder. Further, the credit points on online groceries and dining are multiplied by 3x. The bank comes up with an Ultimate Rewards Program for its Sapphire customers where you get a chance for a 1:1 point transfer. As a result, users can easily participate in multiple loyalty programs from popular airlines and hotels.
Also, Chase Sapphire Preferred provides travel insurance for dismemberment coverage or accidental death with a credit limit of $500,000.
Intro Offer for Amex Gold Vs Chase Sapphire Preferred
The Chase Sapphire Preferred provides cardholders with 60,000 bonus points only if they successfully shop online for a minimum of $4000 within the first three months. However, when you redeem these points through the Chase Ultimate Rewards Program, the amount changes to $750. It means users are free to convert their 60,000 points into $750 of travel purchases.
The program is also beneficial as it lets you trade points at a rate different than the typical 1:1. You get a chance to earn $0.125 for each point. When earned through redemption value, it converts to $1.25 for every 100 points. Amex Gold, alternatively, provides the same points with a duration 2x that of Chase Preferred. Hence, Sapphire cardholders have six introductory months to spend $4000 and earn 60,000 points.
Fees Charged For Amex Gold Vs Chase Sapphire Preferred
The American Express and Chase cards offer a few similarities in the terms of fees charged. Starting with a variable APR (Annual Percentage Rate) of 20.24% to 27.24%, it moves towards a penalty APR of 29.99%. Besides, the cards charge up to $40 for late payments and return payments. Also, users tend to pay 5% or $10 of their total cash advance while paying $0 for foreign transactions.
However, a few factors differ between both cards. For instance,
- The American Express Gold offers an annual fee of $250, whereas the Chase Sapphire Preferred charges only $95 per annum.
- The balance transfer APR and a balance transfer fee for Amex Gold are not specified by the bank. In this case, the Chase Sapphire Preferred charges 20.24% to 27.24% APR and $5 or 5% fees for a balance transfer.
- The cash advance APR is 29.74% for Amex Gold and 29.24% for a Chase Sapphire Preferred.
Amex Gold Vs Chase Sapphire Preferred: Which Is More Secure?
When talking about security measures, both Amex Gold and Chase Sapphire Preferred are perfect. Users can trust the banks regarding their identities and finances. American Express and Chase follow plenty of security protocols to prevent fraud and scams. Some of these security protocols are discussed below,
Security Measures for Amex Gold
Below mentioned are the top four security protocols American Express follows strictly.
- Identity And Fraud Protection
- The bank offers its cardholders 24/7 identity and fraud protection. It also works actively regarding different fraud alerts and notifications, which helps users quickly replace their cards whenever needed.
- Worldwide Travel Support
- American Express offers a protocol known as a Global Assist Hotline for travelers. According to it, cardholders who travel 100 miles from their homes are offered 24/7 emergency support regardless of their locations.
- No Contact Cards
- Amex cards carry a contactless feature to keep first-time users from fraud and scams.
- Shopping Protection
- Cardholders can benefit from a combined security suite to prevent paying for items they did not buy. According to American Express, the main elements in this suite are,
- Return Protection
- Purchase Protection
- SafeKey Technology
Security Measures for a Chase Sapphire Preferred
Below discussed are the top three methods Chase follows to secure its cards.
- Chip Enhanced Security
Cardholders can benefit from an advanced feature of chip security to protect their identities at a higher level.
- Zero Liability Protection
Chase Sapphire Preferred offers zero liability protection which helps to secure its users from unnecessary fraudulent charges.
- Fraud Monitoring
Similar to American Express, Chase offers its users 24/7 fraud monitoring. It alerts and notifies every cardholder regarding any fraud through e-mail, phone, and text.
Comparison: Amex Gold Vs Chase Sapphire Preferred: Which One you to Choose?
Comparing both cards brings tough competition. After comparing the different features and benefits of the card in detail, our experts find both of them ideal for constant use. No feature of these cards can be considered less beneficial or unnecessary.
The best part about using Amex Gold and Chase Sapphire Preferred is their lifetime protection. Even when a customer is promoted from a brand new user to a regular one, both banks prioritize their cardholders in the best ways. Along with the transaction fees and APRs, different bonuses and security measures entertain cardholders for a lifetime.
Rather than selecting the right card for use, it is better to keep both cards in your wallet. If you love everything about travel, dining, and groceries, the Amex Gold and Chase Sapphire Preferred can be your partner. If you are a constant user of any of these cards, feel free to share your experience and reviews in the comments below. Also, if you prefer to choose one among these, let us know why for a better discussion.
Frequently Asked Questions
Is it better to have the Amex Gold or Chase Sapphire Preferred card?
According to research and reports, Having the Amex Gold or Chase Sapphire Preferred is a great option.
In a few situations, American Express provides more benefits to its cardholders than Chase. However, it doesn't win the competition as it costs higher. Hence, individuals can use both of these cards as per their needs and requirements.
What credit score is required for the Chase Sapphire Preferred?
According to the latest updates, you must have a credit score of at least 700 points to use the Chase Sapphire Preferred card. Remember that the bank also gives attention to different factors like your employment and credit card history when approving a user for rewards credit cards.
What credit score is required for Amex Gold?
To apply for the Amex Gold card, you must have a score of at least 670 or higher. Being a popular and highly recognized travel rewards card, it is preferred for individuals with a good to excellent credit limit.
What is the credit limit for a Chase Sapphire Preferred?
For approved cardholders, the lowest credit limit for a Chase Sapphire Preferred is $5000. The average credit limit for this card is $10,000.
What credit limit is required for Amex Gold?
The Amex Gold card has no preset spending limit, which means there is no maximum amount that you can spend through this card. As a result, American Express determines the spending power of its users every month. The bank gives attention to several factors to make the right choice.
These may include the cardholder's payment history, income, and previous spending habits.